Schwartz Sladkus Reich Greenberg Atlas LLP

Check out the latest issue of our Law Down newsletter. The message in the newsletter is one worth repeating here. The holiday season gives us the opportunity to... reflect on the goodwill and prosperity that we have even in this difficult time, and it gives SSRGA the opportunity to thank you for being part of our greater family. We are honored to count you as friends, colleagues and clients, and we look forward to working with you as we emerge from this trying period and soon, with luck put COVID behind us. Here’s to a 2021 with health and success (and many fewer masks) for all! http://bit.ly/2KG6rcZ #SSRGA #happyholidays

Partner Steven Sladkus was quoted in The New York Times article, "Co-ops in the Time of Covid," which explores the challenges that cooperatives have faced during the pandemic. Steven noted that relationships are being tested in co-ops across the city, as sellers adjust to downward pressure on pricing that began before Covid and has been exacerbated by the virus. He said, Some people are trying to get out of co-ops at bargain-basement prices, and that’s making the boards apop...lectic, because they fear the deals will hurt other owners’ resale value. Read the full article: http://nyti.ms/34r3dRo #cooperative #newyorkrealestate #coop #realestatelaw #covid19

Partners Steven Sladkus and Jared Paioff were featured in Habitat Magazine’s Bricks & Bucks newsletter for their work representing the condo board of 90 William St. (known as Be@William), a 113-unit condominium in the Financial District, in its many year effort to receive compensation for construction defects in the building, just two years after it was completed. Their efforts ran up against a 2013 ruling that said condo boards could seek compensation from investors only if ...the board could prove a fiduciary relationship between itself and the investors. This hurdle made it virtually impossible for many condo boards to win compensation for construction defects because in New York, condominiums are often developed by a single-purpose entity formed to construct the building, sell units and then distribute the proceeds to investors. Once the entity sells out the building and pays the investors, it typically closes up shop. However in a new ruling, the Appellate Division of the State Supreme Court clarified that ruling, paving the way for condo boards to seek compensation from sponsors and investors for shoddy construction. Read the full article: https://bit.ly/3pmluba #realestatelaw #constructionlaw #newyorkrealestate #constructiondefects #constructiondisputes #condominium #condolaw

Partner Jeffrey Reich was quoted in a Habitat Magazine article article on the impact of the coronavirus on the ground-floor retail space owned by NYC co-ops. The article notes that because of the complicated methods by which co-ops are created, third-party landlords often control buildings’ storefronts under long-term master leases. Co-op apartments upstairs usually receive some of the retail rent money, which is usually not much compared with the landlords’ share. Many maste...r leases which date back to the 1980s are being relinquished soon by the firms that hold them, allowing many co-ops to finally take over their retail square footage. Jeff noted that the timing is less than ideal, noting, These buildings wanted their retail back for years, and now no one wants it. It really is ironic. Read more: https://bit.ly/2GOv0T3 #newyorkrealestate #realestatelawyer #commercialrealestate #commercialleasing #nycrealestate #covid19

The Real Deal featured commentary from partners Steven Sladkus and Jared Paioff on the recent upholding of a ruling that a condominium board does not have to prove a fiduciary or confidential relationship between itself and the building’s sponsor when suing over construction defects. As the article notes, the ruling, if it stands, will make it easier for condo boards suing over construction defects to claw back money that investors earned from the project. The ruling came as ...part of years-long dispute over construction defects between the condominium board at a Financial District building (90 William Street/Be@William) and Second Development Services and other sponsor entities involved in the development. It reverses 2013 decision that left condominium boards with little recourse to sue over construction defects. Steven noted that this is a critical decision, Investors must now be extremely cautious about the quality of the developers with whom they work as the investors are liable for shoddy construction. Jared said there is now an opening for any claims over the past seven years that were stymied because condo boards could not prove a relationship with investors. Read more: https://bit.ly/35XkYYc #condolaw #nyrealestate #realstatelaw #constructionlaw #constructiondefects

On November 4, Matrimonial, Family & Reproductive Law Group partner Alexis Cirel will present a program to the Family & Divorce Mediation Council of Greater New York on issues related to assisted reproductive technologies during a divorce Alexis and her co-panelist will delve into the impact of the groundbreaking Child Parent Security Act, a new law that replaces traditional rules for determining parentage of children conceived by assisted means, with an intent-based construc...t that recognizes today’s complexities. The panelists will provide suggestions on how family law practitioners can best guide clients in negotiating sperm donation and embryo disposition arrangements and how they can assist clients in mediation to resolve the emotional and legal issues surrounding who is a parent. Learn more and register: https://bit.ly/34hjVCU #divorcelaw #assistedreproductivetechnologies #familylaw #divorce #IVF